MINING.

Otago Daily Times, Issue 9130, 1 June 1891, Page 2

MINING.

NOTES FROM REEFTON. (Fbom Oub Own Correspondent.) Rhbfton, May 30. Stook Exchange Eeport:—The battery returns to hand up to present make a total of 20450z of amalgam, contributed by the Big River, Progress, Globe, Dark, No. 2 Dark, and Cumberland. That of the Fiery Cross and Alpine are hourly expected. The heavy yields from the Cumberland"aad Big Elver are exceptionally good, and must go a long way to still further establishing the high grade of quartz now being mined in the Inangahua district. Crushing at the Hercules is likely to De resumed next week ; and at the Golden Lead battery operaLions are so well advanced as to justify the expectation of the stampers being put in motion for the first time in this new locality within, say, the next three weekß. At the Venm mine stone is being taken out preparatory to crushing. The share market has been moderately brisk during the week, and transactions bave been fairly well distributed over a number of lines, representing pretty well every part of the field, with very fair rises in values in several. Buyers of Alexandra still offerlowrates.aud Big River nre firm at a slight improvement on former quota-tions-a condition certainly well justified bythe blgh average being maintained at the battery. A complete cleaning up takes place on Saturday next. Blue Sky have not changed hands much, but the ground cannot fail to attract notice. Ohmbsllan&Ba'if business at more advanced rates, and touched Hs 6d, tbe highest prloe for these Bbares yet. Excellent stone is b<-ing sent to the mill. The quantity reduced this week ia rather less than usual, some Interference wiih the dam having rendered a temporary stoppage neceisary in the earlier part ot the week. Durham have been dealt in up to ls, and Dudley are quoted at a modest figure. Exchange, with nothing new reported, keep firmer at about the former rate. Fiery Cross are quoted at from 8a to 8s 3d, and the return, which is not yet to hand, is sure to be a handsome one, and leave ample margin for a substantial dividend, which may alio be Baid of the Cumberland. Golden Treamre are a shade easier, and Golden Lead advanced to and sold at 7s 9d— crushing starts Boon with the latter. Low rates were offered for Gallants. Globe remain at a staiionary position, with an early improvement expected. Happy Valley had business in good-sized parcels at usual price-something handy to cd. Sellers of Hercules a«k 2s Hd to-day, and crushing will do much to bring shares in better notice. In the Inkerman lower working good progress towards getting the crosscut for the reef started is being made. The Dork yield is better than usual. The complete cleaning up did not take place today. Lord Edward ranged from 2b 6d to 2s 9d all week, with limited business; but the general appearance of matters out Big river way should lead to some investment in well Bituated ground like this. Buyers of Merrijlgs remain unsupplied at the prices offering, and shares are being looked for. Ho. 2 Dark sold at 5s 4d. The complete cleaning np was not made to-day, and good accounts continue from the mice. Pandora are under slight notice, and sellers of Success atk an advance. Scotia sold at lOd, and flrm at that; and Russell offered today at ls 4d. Buyers and sellerß of Drake keep apart, but the resumption of active work on stone may lead to business directly. Interests in the Pyne lease are wanted The positions of tho Alpine. Wealth, and Welcome in the share market remain unchanged, with the likelihood of fresh developments, causing inquiry at any moment. i Midday Prices:—Bnyers fseliers not given)! Alexandra, 4dj Tyne, 2d. Sellers (buyers net given): Captain Uook, 4d; Dudley, 3d; Globe, ISs 6d; Inglewood, Is; Dark, 13s; Kaipai, 4d; Treasurers Id ; Prima Donna, 4d ; Russell, ls 4d j Alpine, 19s ; Wealth, 3s 6d; Big River, 13a to 13s 3d; Blue Sky, 6d to 7d; Cumberland, I4s to 14s 6d; Durham, lOd to lid; Exchange, lid to Is Id; Fiery Crois, 8s to 8s 3d; Gallant, 4d to 6d; Happy Valley, Sd to 6d j Hercules. 2s 9J to 2s Ud; Lord Edward, 2s 6d to 2b 9d; Merrijlgs, Is 8d to Ib lid; No. 2 Dark, 5s 3d to se6d; Success, 6d to 7d ; Scottia. 8d to Is; Drake, Is 2d to ls 6d; Pandora, 2d to 4d. Sales: Golden Lead, 7s 9d. May 31. During the beginning of the past week the business on 'change was very limited owing to the Queen's Birthday holiday, whioh was kept up the following day by the Reefton and Grey Valley Coursing Club, whose meet at the Ikamatua Plains concluded on Tueiday. The Cup Match between Reefton aod Westport footbill olobs, In whioh the former were victorious, also occupied some attention, bo that altogether business in Reefton was only considered of Becondary importance as compared with sport and other plessares. It was only during the end of the week that attention was direc ed towards legitimate mining business, of which a fair amount was done up to a late hour on Saturday in various cheap lines, but the greatest attention was absorbed by the Cumberland, Big Biver, and Golden Lead. In the flrst and last named company stock changed hands at a considerable advance on former rates. In otber stocks not much change haa taken place, but several lately negieoted ventures are now again eomiog into notice, and find buyers at small rates as yet merely us speculation, but as work hss been and will be started in several, principally in the distriot of Big River and Merri jigs, some ot these will probably soon come to be considered as investment stocks. With respect to these two districts some oonfuslon Bometimeß arises owing to the faot that in eaoh there Is a mine named a(t?r the locality. When this is borne in mind no misapprehension need ooour, otherwise mistakes might be made Cumberland.—The amalgam for the month is HOSoz which retorted gave 4890z gold from 535 tons. A dividend (the third) of ls per 24,000 th share was declared and made payable on Thursday, 4th June. Tho Big River Company's mill will run another week before the general cleaning up takes place, and a shilling dividend here also is almost certain. The Golden lead crushing plant is expected to be out of hand in eight or 10 day, when the mill will start at once en a large parcel of excellent stone, which during the week showed a large percentage of loose gold, so that the stuff had to ba bagged. The Progress amalgam for tbe month is 1038oz, but it will not be known till to-morrow If a dividend will be declared. The Fiery Cross cleaning up was taken in hand on Saturday, but up to the present returns are not yet to ha*:d, but as the w?ekly yield has been good it is highly probable that a dividend will be tho result. The returns from the Globe and I he Keop-it-Dark show an improvement on Me previous yields, and it Is confidently expected that theie improvements will continue ond become permanent. Taking the whole field as at present, it etnndsthe mot markedly ahead in mining matters than at any other period, and the stab'Jity of the Inangahua mines rests ona sounder basis than ever before. Reefton battery returns :—Cumberland, 7700z amalgam from 125 tons; Rig River, 3610z amalgam from 75 tons; Progress, 350nz amalgam for the week, Including box™; Globe, 2950z amalgam; No 2 Dark, W3oz amalgam from 86 tons (top plates); Wealth, 107oz amalgam from 9j ton?; Keep-it-Dark, 106oz amalgam from 80 tona (top p!ates); Fiery Cross and Alpine not yet in. The manager of the Roxburgh Amalgamated Mining and Bluolng Oompany (Limited) telegraphs that he washed upon Friday for 450z 2dwt from No. I elevator, and 350z 12dwt from No 2.

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